Top-3 US Exchange Retained $75M in Sequencer Revenue Running Own OP Stack Chain

馃挵 Own the Rails

By Optimism
Jul 16, 2026, 3:48 PM
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A major US exchange captured $75 million in sequencer revenue during H2 2025 by operating its own OP Stack chain instead of renting infrastructure.​

Key Economics:

  • Owning infrastructure = 100% revenue retention
  • Renting space = revenue goes to the provider
  • Full control over fee structures and block space allocation

OP Enterprise Benefits:

  • Managed deployment and operations
  • Pre-integrated ecosystem (RPCs, oracles, bridges, indexers, wallets)
  • Compliance and custody solutions included
  • Teams focus on product development, not infrastructure management

H2 2025 performance across CEX OP Stack chains showed $495M in app revenue, 6B transactions, and $5.​5B in smart contracts鈥攄emonstrating the financial case for ownership over rental models.​

Sources

A top-3 US exchange kept $75M in sequencer revenue in H2 2025 by running its own chain on the OP Stack. Rent space on someone else's and that money is theirs. Own it and 100% of the revenue stays yours, along with the customization to set your own fees and block space.

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